August, 2019

• 13 August

  Trade war tariffs are not boosting US prices: Trump

  

  Bloomberg US President Donald Trump decried what he called China’s “massive” intervention to suppress the yuan, portraying the US as the beneficiary of his tariffs on Chinese imports and suggesting — despite recent evidence to the contrary — that prices aren’t rising. “Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of ...

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• 13 August

  Dubai Association Conference’s second edition to be held in Dec

  DUBAI / Emirates Business Momentum is building towards the second edition of the Dubai Association Conference, with more details being unveiled about the event’s rich programme, built around the core theme of ‘Driving change: The societal impact of associations’. Taking place from December 9-10 at Dubai World Trade Centre and organised by Dubai Association Centre, the 2019 Dubai Association Conference ...

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• 13 August

  Developers complete 20,978 residential units in Dubai in H1

  

  DUBAI / Emirates Business Despite a sustained correction in prices across nearly all communities in Dubai, developers are completing construction and handing over projects with speed, according to the ‘Property Finder Trends’ report for H1 2019. According to data in ‘Trends’ report, a total of 20,978 residential units completed in the first half of 2019. The total comprised 14,999 apartments, ...

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• 13 August

  After $140bn wipeout, Alibaba and Tencent bid for comeback

  

  Bloomberg China’s two largest companies have lost a combined $140 billion in market value since the escalation of the trade war in May. As Alibaba Group Holding Ltd. and Tencent Holdings Ltd. report earnings this week back-to-back, they’ll try to show the punishment is overdone. The brutal market selloff began three months ago as Donald Trump’s administration slapped restrictions on ...

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• 13 August

  Trump Jr. kicks off sale of luxury condos in Indonesian projects

  

  Bloomberg PT MNC Land, an Indonesian builder, began a sale of luxury condos and mansions in two projects being developed in Indonesia in partnership with the Trump Organisation, marking the US developer’s foray into Southeast Asia’s largest economy. Donald Trump Jr., who attended a pre-launch event in Jakarta for condos and villas that will be built in West Java and ...

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• 13 August

  Huawei hires trade lobbyists as sales slow in US-China fight

  

  Bloomberg Huawei Technologies Co. hired the law firm Sidley Austin LLP to lobby on trade as the US pressures allies to join it in blacklisting the Chinese telecom giant and the company finds itself increasingly mired in President Donald Trump’s trade war with Beijing. The lobbying, which began in July, will focus on export controls, trade sanctions “and other national ...

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• 13 August

  Singapore cuts its economic growth outlook to near zero

  

  Bloomberg Singapore’s government cut its forecast for economic growth this year to almost zero as the escalating US-China trade war dampens the region’s most trade-reliant economies. Singapore’s economy now is seen growing 0.0%-1.0% this year, down from a previous projection of 1.5%-2.5%, the Ministry of Trade and Industry said on Tuesday, with growth expected to come in near the midpoint ...

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• 13 August

  India’s car sales drop most in two decades as slowdown deepens

  

  Bloomberg Passenger vehicle sales in India dropped the most in nearly two decades, with the decline extending for a ninth straight month amid a broader slowdown in Asia’s third-largest economy. Car sales fell 36% from a year earlier to 122,956 units in July, data released by the Society of Indian Automobile Manufacturers showed. Passenger vehicle sales slumped 31%, while truck ...

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• 13 August

  Saudi Aramco plans to buy 20% stake in Reliance refining unit

  

  Bloomberg Saudi Aramco plans to buy a stake in the refining and chemicals business of India’s Reliance Industries Ltd., moving to diversify from Saudi Arabia. The purchase by Aramco, the largest oil exporter and the most profitable company in the world, precedes a planned public offering that could be held as early as next year. Aramco will buy a 20% ...

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• 13 August

  Putin’s missile is far better than Trump’s missile, says Kremlin

  

  Bloomberg Russia said it’s far ahead of the US in developing new nuclear-powered missiles despite a failed test that prompted President Donald Trump to boast of American superiority in the field. President Vladimir Putin “has repeatedly said that Russian developments in this area surpass the level achieved by other countries, and are quite unique,” Kremlin spokesman Dmitry Peskov told reporters ...

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